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The Premier League has charged Leicester City over an alleged breach of the league’s Profitability and Sustainability Rules (PSR).

A Premier League statement read: “The Premier League has today referred Leicester City FC to an independent Commission for an alleged breach of Profitability and Sustainability Rules (PSRs) and for failing to submit their audited financial accounts to the League.

“The alleged breach relates to the assessment period ending Season 2022/23, when the club was a member of the Premier League.

“Leicester City were relegated to the EFL Championship prior to the introduction of the Premier League’s new Standard Directions, which prescribe a timeline within which PSR cases should be heard.

“Therefore, the proceedings will be conducted in accordance with a timetable to be set by the independent Commission, and its final decision will be published on the Premier League’s website.”

Sky Sports reported on Tuesday that Leicester’s accounts covering last season – which will be made public later this month – are expected to show they exceeded the £105m losses permitted over the previous three seasons.

Similar breaches by Everton and Nottingham Forest have been met with Premier League charges, with Forest now hit with a four-point deduction and another possible points deductions for Everton to follow.

However, even though it is within the rules for a Premier League rule break to lead to a club being punished in the Championship, Leicester will not face a points deduction this season.

More to follow…

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